Colin's right.  I like to do the same thing with a clause on insurance.  "Subject to the buyer being able to secure an insurance policy over the property that is acceptable to the buyer".  Some property types are tricky or pricey to insure.  You would not want to be left holding a hot potato that you were contractually obliged to buy, but for whi…[Read more]

Seriously … do not rush into offering to buy this place until it has been inspected and you are dead certain of what you're getting yourself into.  You are not buying a kitkat here.  You're talking about parting with a giant wad of cash.  You would want to be very certain in your own mind of what you are doing.  And remember, this is not the las…[Read more]

Some employers might offer this, but definitely not all.  I know (some of?) the medical industry does, and not for profit organisations (ie charities such as The Red Cross.

They don't need to be "good".  They just need to be a JP.

Hey Portfolio Pl / JoshYour profile is set up in such a manner that you cannot be PM'd…

Regardless.  The TV belongs to the tenant and thus the tenant is responsible.Just a side question; do you have a safety switch?  If not, would a safety switch have prevented the situation?I've just gone through the process of installing new boxes with safety switches.  It costs about $750 all up.  Well worth it.  I don't think I could sleep at n…[Read more]

If they are strata-titled, you might find that by purchasing them all under separate contracts of sale you save on some stamp duty.  Worth doing providing that the extra solicitors fees make it not worth the bother.

Depends on the lender and also the insurer as the others have said.  CBA considers 4 to be residential and 5 to be commercial.  AAMI will not insure a block of more than 2.  GIO will insure a block of 4.I acquired a block of 4 using CBA residential, and GIO residential IP.  You really have to hammer it in to GIO though that the units are all on…[Read more]

to reduce your debt on your home. if you are paying bank interest it is better if it deductible

Is the mortgage on your PPOR large?  If so you might want to look at refinancing or selling one of the IPs to get the debt on the PPOR down (since it is non-deductible debt)

An agent's job is to clear the stock.  They do not get their commission till they do.  A difference in sale of $5k will earn the agency only 2% of $5k which is $100, and the actual person that made the sale sees only a portion of that $100.  They are not going to bust a gut to be fair to everyone for what…. $30 or something.  They are going to t…[Read more]

Perhaps you can get around it by instead doing a joint venture with someone – where you do the legwork in terms of finding the property, working out what needs to be done to it to fix it up etc etc,  you do some of the cleaning labour and so on, and the other person stumps up the cash.  In return you get a certain percentage of the equity (ie y…[Read more]

I disagree about the matter of the big green store being unhelpful on these matters.  This store specifically employees tradies, and tradies know other tradies.  I am in that store every weekend with a different "hi, I need to such and such a thing.  What are my options?  What are the pitfalls?  What stuff do I need?  Can I DIY it or do I need…[Read more]

What council district do you live in?  Some councils are pretty fussy about adhering to rules.  Straight up front I could suggest contacting council to ask if there are any by-laws they can enforce that penalize leaving the bins out when it is not bin night….  perhaps there are some littering by-laws that can be leveraged as well.As for the br…[Read more]

I'll bet that the interest rate you're paying on the car loan is higher than that of the homeloan.  In that regard you'd either want to pay that car off quick smart, or perhaps refinance everything such that the monies for the car are borrowed against the house.

Have you thought about hunting for property that is technically not yet on the market?  For eg doing a letterbox drop in the area of interest introducing yourself, and inviting the owner to contact you if they might have an interest in selling their property, and at the same time saving themselves a bit of money (due to not having to pay a…[Read more]

Remember that even if, for example, a property really is only worth the amount you are offering, you cannot buy it if the vendor does not wish to sell for that figure.  Their reasons could include the fact that they'd make such a loss, they might as well hang onto the property, or that their feelings are hurt by the low offer.  If it is the l…[Read more]

You cannot claim stamp duty on your tax return anyway.  It only comes into play if and when you sell the property, to determine the capital gain.  In that regard, it doesn't matter whether you spend your few extra thousand on a higher property price or on the stamp duty.  All that matters is the total of the dwelling cost plus the stamp duty.

There always needs to be an exit strategy, and there always needs to be a tenant pool.  Where do you "live"?  Is it an area that always has a steady stream of prospective tenants, and also prospective buyers if you need to offload the property?

Have you tried talking to a few managing agents about the vacancy rates in the area?  Remember that different property types will have different vacancy rates.  For eg in one area, two bedders might be in massive demand while four bedders lie vacant for a while.Keep an eye on the rent section of realestate.com.au and see how long particular p…[Read more]